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SL Green Realty Corp. (SLG) reported third-quarter 2024 funds from operations (FFO) per share of $1.13, which missed the Zacks Consensus Estimate of $1.21. The company had reported an FFO of $1.27 per share in the previous year. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar. Results reflected decent leasing activity in its Manhattan portfolio and higher rental revenues, though higher interest expenses acted as a dampener. Net rental revenues of $139.6 million surpassed the Zacks C ...

Shares of SL Green Realty (NYSE: SLG ) have been a stunning performer over the past year, doubling to a 52- week-high, as many of the worst fears about office real estate have simply not come to pass. Shares Over fifteen years of experience making contrarian bets based on my macro view and stock-specific turnaround stories to garner outsized returns with a favorable risk/reward profile. If you want me to cover a specific stock or have a question for an article, just let me know! Analyst's Disclosure: I/we h ...

For the quarter ended September 2024, SL Green (SLG) reported revenue of $139.62 million, up 6.2% over the same period last year. EPS came in at $1.13, compared to -$0.38 in the year-ago quarter. The reported revenue represents a surprise of +2.17% over the Zacks Consensus Estimate of $136.66 million. With the consensus EPS estimate being $1.21, the EPS surprise was -6.61%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street ...

Group 1 - SL Green reported quarterly funds from operations (FFO) of $1.13 per share, missing the Zacks Consensus Estimate of $1.21 per share, and down from $1.27 per share a year ago, representing an FFO surprise of -6.61% [1] - The company posted revenues of $139.62 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 2.17%, compared to year-ago revenues of $131.52 million [2] - SL Green shares have increased approximately 58.8% since the beginning of the year, outperforming the S&P 500's gain of 21.9% [3] Group 2 - The current consensus FFO estimate for the coming quarter is $1.28 on revenues of $137.55 million, and for the current fiscal year, it is $7.62 on revenues of $538.1 million [7] - The Zacks Industry Rank for REIT and Equity Trust - Other is currently in the top 38% of over 250 Zacks industries, indicating a favorable outlook for the industry [8] Group 3 - Ahead of the earnings release, the estimate revisions trend for SL Green was favorable, resulting in a Zacks Rank 1 (Strong Buy) for the stock, suggesting expected outperformance in the near future [6]

Financial and Operating Highlights Net loss attributable to common stockholders of $0.21 per share for the third quarter of 2024 as compared to net loss of $0.38 per share for the same period in 2023. Funds from operations ("FFO") of $1.13 per share for the third quarter of 2024, which was reduced by $9.0 million, or $0.13 per share, of non-recurring, non-cash fair value adjustments on mark-to-market derivatives. The Company reported FFO of $1.27 per share for the same period in 2023. Signed 42 Manhattan of ...

NEW YORK, Oct. 16, 2024 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (NYSE: SLG), Manhattan's largest office landlord, today announced that it has signed a 924,876 square foot renewal and expansion lease with Bloomberg, L.P. at 919 Third Avenue. The transaction includes a 749,035-square-foot, 11-year lease extension commencing March 1, 2029, covering floors 2-18 and 28-33. In addition, Bloomberg will expand its footprint within the building by 175,841 square feet with a new 15-year lease covering a portion of ...

SL Green (SLG) boasts a portfolio of high-quality and amenitized office properties in New York City to cater to the rising demand for premier office spaces. Its long-term leases with a diverse tenant base and focus on an opportunistic investment policy to enhance its portfolio quality are encouraging. However, the elevated supply of office properties in its markets and the geographic concentration of assets remain a concern. Analysts seem bullish on this office REIT carrying a Zacks Rank #2 (Buy), with the ...

The upcoming report from SL Green (SLG) is expected to reveal quarterly earnings of $1.20 per share, indicating a decline of 5.5% compared to the year-ago period. Analysts forecast revenues of $135.76 million, representing an increase of 3.2% year over year. The consensus EPS estimate for the quarter has undergone a downward revision of 0.6% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timefr ...